WPC 300 Final Exam review 2024/2025 Actual questions and correct answers

Data Variable Categories - CORRECT ANSWER-Qualitative and Quantitative Qualitative - CORRECT ANSWER-Is descriptive and conceptual and cannot be measured Quantitative - CORRECT ANSWER-Can be counted, measured, and expressed using numbers Quantitative Data Variables - CORRECT ANSWER-Numerical-interval, ratio Categorical-Nominal, ordinal (Quantitative Categorical) Nominal - CORRECT ANSWER-The numerical values just "name" the attribute uniquely Ex: Employment classification 1 for Educator 2 For Construction Worker 3 for Manufacturing Worker (Quantitative Categorical) Ordinal - CORRECT ANSWER-Numbers are used to indicate rank or order Ex: 1 for President 2 for Vice President 3 for Plant Manager (Quantitative Numerical) Interval - CORRECT ANSWER-Also known as "Scale", "Quantitative" or "Parametric" data. Distances between consecutive integers are equal Relative magnitude of numbers is meaningful Differences between numbers are comparable Location of origin, "zero", is arbitrary (VAGUE ZERO) Data are always numerical Ex: Temperature at different rooms in a home (Quantitative Numerical) Ratio - CORRECT ANSWER-Similar to interval scale, the difference being that Ratio has a true ZERO POINT. This scale is commonly used for values that are measured in numbers, such as length, height, weight, or monetary values like cost and revenue. Relative magnitude of numbers is meaningful Differences between numbers are comparable Location of origin, zero, is absolute (natural) Ex: Height, Weight, and volume Statistics - CORRECT ANSWER-the science concerned with developing and studying methods for collecting, analyzing, interpreting and presenting empirical data to assist in making effective decision Descriptive statistics - CORRECT ANSWER-a summary statistic that quantitatively describes or summarizes features from a collection of information, 3 Principles of describing data - CORRECT ANSWER-Center, Spread, Shape inferential statistics (Sample data) - CORRECT ANSWER-Estimate uncertainty (using probability) some member of the data to infer about population data Population - CORRECT ANSWER-(the whole) a collection of persons, objects, or items under study Census - CORRECT ANSWER-gat